Under Offer 30/05/2024
$449,000
Lot 12/59-61 Kembla Street, Wollongong NSW 2500
Apartment
221
6.46% pa Fixed monthly return with 4% annual increases!
Outstanding investment | Look no further than this serviced apartment located in the Quest Apartments centrally positioned in the heart of Wollongong CBD, an easy stroll to restaurants, cafes, cultural attractions, shopping precinct, and Wollongong's harbour and beaches.
This serviced apartment offers two bedrooms, combined lounge dining off the kitchen and single car allocation. The lease has been signed until 2025 and options until 2040 making this investment easy for the astute investor and or self-managed super fund.
Modern kitchen with stainless steel appliances & dishwasher
Recently replaced split system air conditioning to living area & ceiling fans to bedrooms
Built in wardrobe to bedrooms & additional linen storage
Large bathroom & ensuite with additional internal laundry
Plenty of natural light & refreshing neutral palette
The current rental return is $2,325.15 per month with guaranteed 4% increase annually. These serviced apartments are purely a set and forget investment but please note that they cannot be occupied by the owner
Please contact Lindsay Begley on 0412 661 512 to register your interest.
Lease details:
Rent as of July 2024: $2418.15 per month = $29,017.87 per annum
Return: 6.46% Gross = 5.60% Net
Next Market Review = June 2025
Lease terms, rent reviews and increases:
Lease to 15th of June 2025 with 3 x 5 year options
4% yearly increase with market rent reviews every 5 years (next due June 2025)
Rates & Outgoings:
Council: $340.45pq | Water: $172.10pq
Strata Administration Fee: Paid by Tenant (Quest)
Capital Works Fund: $450.00pq
Please Note: Net returns do not include future capital works or additional government taxes associated with property ownership.
Disclaimer: All prospective purchasers are encouraged to get their own independent financial and legal advice.
Features include: Ensuite
This serviced apartment offers two bedrooms, combined lounge dining off the kitchen and single car allocation. The lease has been signed until 2025 and options until 2040 making this investment easy for the astute investor and or self-managed super fund.
Modern kitchen with stainless steel appliances & dishwasher
Recently replaced split system air conditioning to living area & ceiling fans to bedrooms
Built in wardrobe to bedrooms & additional linen storage
Large bathroom & ensuite with additional internal laundry
Plenty of natural light & refreshing neutral palette
The current rental return is $2,325.15 per month with guaranteed 4% increase annually. These serviced apartments are purely a set and forget investment but please note that they cannot be occupied by the owner
Please contact Lindsay Begley on 0412 661 512 to register your interest.
Lease details:
Rent as of July 2024: $2418.15 per month = $29,017.87 per annum
Return: 6.46% Gross = 5.60% Net
Next Market Review = June 2025
Lease terms, rent reviews and increases:
Lease to 15th of June 2025 with 3 x 5 year options
4% yearly increase with market rent reviews every 5 years (next due June 2025)
Rates & Outgoings:
Council: $340.45pq | Water: $172.10pq
Strata Administration Fee: Paid by Tenant (Quest)
Capital Works Fund: $450.00pq
Please Note: Net returns do not include future capital works or additional government taxes associated with property ownership.
Disclaimer: All prospective purchasers are encouraged to get their own independent financial and legal advice.
Features include: Ensuite
Inspections
No inspections scheduled on Allhomes, yet. You may ask the agent about upcoming inspections.
Send an enquiry
Contact Lindsay Begley to learn more about this property, request an inspection or take an online tour.
Key details
Bedrooms:
2
Bathrooms:
2
Garage Spaces:
1
Property type:
Apartment
Other Details
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Nearby sales
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We found 33 apartments with 2 bedrooms that just sold near Lot 12/59-61 Kembla Street Wollongong
What's nearby
Wollongong Primary SchoolPrimary School
0.2km
Smith Hill High SchoolHigh School
0.7km
Illawarra Regional Hospital Wollongong CampusHospital
1.3km
Stockland Shellharbour Shopping CentreMajor Shopping Centre
16.5km
St Mary Star Of The Sea CollegeCollege
0.5km
Post OfficePost Office
1km
Property history
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SummaryMedian sales
Average Age
35 years
Population
20,446
Listing ID: 182530361. This listing has been viewed 138 times. It was first displayed on 17/05/2024 and last updated on 30/05/2024.
Allhomes acknowledges the Ngunnawal people, traditional custodians of the lands where Allhomes is situated. We wish to acknowledge and respect their continuing culture and the contribution they make to the life of Canberra and the region. We also acknowledge all other First Nations Peoples on whose lands we work.
"With open hearts and minds, together we grow." artwork by David Williams of Gilimbaa.